ENA, the closely held media company that owns TV stations and newspapers, including the Detroit News, refused to comment on the outcome of presentations made Wednesday to its board of directors.

Porter Bibb, an investment banker who is advising a group of dissident ENA shareholders, said he believed all three offered to pay more than $1,250 a share, or $566.3 million, for the company. That figure is significant because it is the value of a hostile takeover bid by TV producers Norman Lear and Jerry Perenchio.

ENA has urged shareholders to reject the offer by Lear and Perenchio while it seeks an alternative.